ECB sets new climate risk requirements for banks
The European Central Bank unveiled new requirements for banks on climate-related and environmental risks for banks today (November 27).
The ECB also released a report saying only 3% of the eurozone banks it surveyed fully disclose all of what it terms “basic climate-related information”.
It published a guide to the new regulations, which have come into force with immediate effect. In early 2021, the ECB will require banks to carry out self-assessments of their structures and practices.
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